(a) The officers of said District shall be a Moderator, a Clerk, a Treasurer, a Collector, and an Auditor, who shall be chosen annually, and a Prudential Committee of seven, hereafter to be chosen as follows:

(b) At each annual meeting of the Town of Middlebury, there shall be elected a member of the Committee for a term of five years, except however, that at successive five-year intervals after each of the years 1969 and 1970, there shall be elected at the Town's annual meeting, an additional member for a term of five years. Each member of the Committee so elected shall take office at 12:01 a.m. on the day following the annual meeting of School District No. 4 in Middlebury. A vacancy on the Committee shall be filled for the unexpired term by appointment by a majority of the members of the Committee. The officers shall hold their respective offices until their successors are chosen.